Commercial property for sale in Turkey: a profitable investment in the future
With year-round tourism and a rapidly growing economy, Turkey is considered the most attractive place to do business. Here you can open your own cafe, hotel or shop right on the coast of the famous Turkish resorts. With a balanced approach, investments in commercial property in Turkey will quickly pay off and begin to bring a stable income. A big plus is that not only the Turks themselves, but also foreign citizens can open their own business here. The Turkish authorities do not put forward serious requirements for non-residents, allowing them to conduct business on equal terms with the local population.
The most profitable business deals and popular investment options in Turkey?
The Turkish commercial property market is rich and varied. Foreign investors have the opportunity to invest in the following business properties:
- hotels and hostels;
- office spaces;
- restaurants and cafés;
- shopping and retail centres;
- storage units.
Practice shows that, in order to obtain high profits, it is advisable to purchase commercial property located in metropolitan areas of Turkey — Istanbul, Ankara, Antalya. In these cities, due to their large population and well-developed tourism, commercial property brings in a stable income throughout the year. Moreover, profit can be obtained not only from doing business on your own commercial premises. A good income is also provided by renting the purchased commercial property long-term. This becomes possible due to the fact that, in large Turkish cities, many companies and individuals often require premises for doing business.
Foreign investors are offered 4 options that allow them to profitably invest in commercial property in Turkey:
- Invest in a property under construction.
- Rent a room or building out for business.
- Purchase a ready-to-use commercial facility.
- Invest in an existing business.
Each of these options has its own nuances, which are important to consider before buying commercial property in Turkey. In particular, novice businesspeople should definitely familiarize themselves with Turkish legislation in the field of entrepreneurship and taxation in order to correctly calculate their own budget and comply with all local rules.
How did commercial property in Turkey become so popular?
Foreign investors are interested in buying Turkish properties for doing business for a variety of reasons:
- Turkey’s economy has been rapidly progressing over the past years, contributing to the development of entrepreneurship in all directions;
- optimal conditions have been created for foreign investors in the country — they can purchase commercial property according to simplified rules and conduct business on the same attractive terms as residents;
- commercial property for sale in Turkey rises in price by 10-15% annually — this allows investors to profitably resell theirs after a few years;
- due to year-round tourism, business profit stays stable even in winter.
In addition, profitably leasing commercial real estate in Turkey long-term, foreign investors get the opportunity to recoup their investments in 5-7 years. This leads to the fact that the majority of foreigners acquire additional properties here or expand their existing business over time.
The cost of commercial property in Turkey?
The price of premises for a business depends on a number of factors. In particular, their location, technical equipment and year of construction are taken into account. For hotels and restaurants, the number of stars plays a key role in price formation.
On average, the sale of commercial real estate in Turkey starts at 1000 euros per square meter. The most expensive objects are estimated in Istanbul, Ankara and Alanya. In these cities, sellers ask for 2,000 to 3,000 euros per square meter of a hotel, restaurant or office space. For five-star hotels, the price tag can be twice as high.
The cheapest prices for commercial real estate in Turkey are set in small towns — Buka, Bodrum, Trabzon. There, you can buy objects for entrepreneurial activity in the range of 800-1,000 euros per square meter. In some cases, premises are priced even cheaper if they have undergone no renovations or are located in places with low traffic.
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